Chinese Market: No tariff for 5,161 more Bangladeshi products

China gives duty-free access to 5,161 more Bangladeshi products in its market from July 1.

With the announcement made by the State Council of Ministry of Finance of China, a total of 8,256 Bangladeshi products will come under the 97 percent of products that would be exempted from tariff.

Bangladesh described it as a success of its economic diplomacy.

"We are glad to inform that as part of our economic diplomacy and the consequent outcome of exchange of letters between Bangladesh and China, Tariff Commission of the State Council of Ministry of Finance of the People's Republic of China issued a notice on granting zero treatment to 97 percent of Bangladeshi products," said a foreign ministry official.

He said Bangladesh is getting this as an LDC.

"It is in addition to the preferential duties that we are already enjoying from China under Asia-Pacific Trade Agreement (APTA)."

This announcement opens the doors for Bangladeshi exporters to enjoy zero tariff for 5,161 more items to enter the Chinese market from July 1.

This declaration comes as per China's commitment to zero tariff treatment for 97 percent of the products of the least developed countries that have established diplomatic relations with China, said a notification from the Ministry of Finance of China on Tuesday.